Deutsche Bank AG Invests $145.57 Million in The Hartford Insurance Group, Inc. $HIG

Key Points

• Deutsche Bank acquired 1.10 million shares of The Hartford Insurance Group in the second quarter, worth approximately $145.6 million and representing about 0.41% of the company. Institutional investors collectively own 93.42% of HIG.
• The Hartford reported quarterly earnings of $3.42 per share, exceeding estimates of $3.16, while revenue rose 8.1% year over year to $7.26 billion.
• HIG announced a quarterly dividend of $0.60 per share, or $2.40 annualized, yielding about 1.7%. Analysts maintain a consensus “Hold” rating with an average price target of $149.67, versus a recent share price of $137.83.

Deutsche Bank AG acquired a new position in The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,098,517 shares of the insurance provider's stock, valued at approximately $145,575,000. Deutsche Bank AG owned approximately 0.41% of The Hartford Insurance Group as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HIG. First Pacific Financial bought a new stake in The Hartford Insurance Group during the first quarter worth about $26,000. JPL Wealth Management LLC bought a new position in The Hartford Insurance Group in the 3rd quarter valued at about $26,000. Phillip James Consulting Co. bought a new position in The Hartford Insurance Group in the 1st quarter valued at about $29,000. Sunbelt Securities Inc. acquired a new position in shares of The Hartford Insurance Group in the 3rd quarter valued at approximately $29,000. Finally, Clearstead Trust LLC acquired a new position in shares of The Hartford Insurance Group in the 2nd quarter valued at approximately $29,000. Institutional investors own 93.42% of the company's stock.

The Hartford Insurance Group Stock Performance

Shares of The Hartford Insurance Group stock opened at $137.83 on Thursday. The business has a 50-day moving average price of $137.25 and a two-hundred day moving average price of $136.62. The Hartford Insurance Group, Inc. has a 1-year low of $120.33 and a 1-year high of $146.07. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.23. The company has a market cap of $37.33 billion, a P/E ratio of 8.91, a PEG ratio of 3.41 and a beta of 0.46.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $3.42 EPS for the quarter, topping the consensus estimate of $3.16 by $0.26. The company had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a net margin of 15.00% and a return on equity of 21.66%. The company's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.41 EPS. As a group, analysts anticipate that The Hartford Insurance Group, Inc. will post 12.8 EPS for the current year.

The Hartford Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be paid a $0.60 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 15.51%.

Insider Activity at The Hartford Insurance Group

In related news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $135.13, for a total value of $1,201,981.35. Following the completion of the sale, the president directly owned 38,208 shares of the company's stock, valued at $5,163,047.04. The trade was a 18.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on HIG. JPMorgan Chase & Co. increased their price target on shares of The Hartford Insurance Group from $149.00 to $152.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Piper Sandler restated a "neutral" rating and set a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods boosted their price objective on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a "market perform" rating in a research report on Tuesday, July 28th. Barclays cut their target price on The Hartford Insurance Group from $156.00 to $155.00 and set an "overweight" rating for the company in a research note on Friday, June 12th. Finally, Mizuho raised their target price on The Hartford Insurance Group from $154.00 to $163.00 and gave the company an "outperform" rating in a report on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $149.67.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source